LEGAL NAME

Doors To The World, Inc.

TRADING NAME

Doors To The World, Inc.
2020 Sommerhill Drive

ADDRESS

Suite Nº 203
New Barton, ON N2O 1T1
PHONE
E-MAIL
FORM OF COMPANY

DATE COMPANY STARTED
LAST FISCAL YEAR END
LAST INTERIM STATEMENT
INDUSTRY SECTOR

(514) 555-2020
info@doorstotheworld.com

(519) 555-1010

Corporation

February

1986

October

2003

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Construction
321911

NAICS CODE
% OF SALES THAT
GO TO EXPORT

FAX

10%

A1

4% 6.9% 0.100 Oct-02 $625.000 94.000 Oct-05 $932.1% 29.900 114.1% 8.3% 10.360.5% 10.495.000 218.1% 8. etc.007.) New products will be lanuched October of next year Projections suppose same price positioning and product quality (mid to high end) A2 .0% 69.122.HISTORICAL SALES ACTIVITIES French Doors Panel doors Windows New door model TOTAL SALES ($) 0.2% 0.0% 0.300 225.000 151. sales will not materialize until 6 months in the fiscal year (time to establish working relationships with distributiors.00 0.9% 0.000 180.900 275.00 0.0% 10.3% 19.2% 14.0% 0.0% 0.4% 10.9% 8.000 Oct-03 $789.0% 67.300 $1.000 62.3% 6.000 83.000 130.0% SALES ACTIVITIES (%) French Doors Panel doors Windows New door model 0 ASSUMPTIONS REGARDING SALES Sales will follow the eplanned expansion activities (distribution in other provinces and New England) For both years.00 PROJECTED Oct-04 $863.000 194.5% 0.000 Oct-06 $1.0% 70.00 0.000 $1.400 74.000 75.0% 68.0% 0.00 Oct-01 $571.300 Jan-00 0.000 $1.000 210.000 127.4% 14.000 140.0% 0.0% 67.000 $921.5% 14.248.200 $0 $1.0% 24.400 $933.

800 6.3% 3.0% 33.0% 27.000 270.000 35.000 2.0% 14.0% 2.0% 21.000 290.3% 0.400 1.000 37.800 4.107.000 9.6% 3.000 12.2% 26.000 8.0% 0.000 3.0% Jan-00 COST OF SALES (%) Opening Inventory Material Purchases Freight & Duty Other Closing Inventory (-) Total Material Costs Direct Labour Wages Repairs & Maintenance Services / utilities Depreciation Overhead Realty Taxes TOTAL COST OF SALES (%) ASSUMPTIONS REGARDING COST OF SALES Input material costs are expected to remain fairly constant over the forecast period.9% 3.0% 16.5% 100.000 $839.8% 73.8% 0.00 $0 Oct-04 $212.100 12.7% 100.4% 0.6% 3.0% 0.7% 1.000 $640.600 212.400 Oct-05 $270.000 3.00 Oct-01 $173.000 Oct-06 $290.9% 11.400 20.4% 3.700 120. A3 .5% 76.300 25.000 $728.5% 72.00 0.200 19.000 13.1% 0.300 100.1% 0.000 $679.100 80.4% 3.7% 79.900 18.000 6.000 3.000 14.8% 0.3% 30.0% 24.700 28.9% 0.7% 0.1% 3.2% 76.8% 100.4% 75.7% 0.900 158.4% 2.6% 0.4% 3.000 25.800 26.3% 0.000 166.5% 2.6% 74.000 36.00 0.9% 1.4% 26.000 $876.700 6.900 20.1% 100.000 3.200 21.1% 2.000 270.000 38.3% 0.0% 21.3% 0.400 12.000 39.600 Oct-02 $147.200 $677.100 611.0% 15.6% 72.2% 0.3% 3.3% 24.000 710.500 $536.8% 100.000 $1.1% 0.2% 70.3% 3. The addition of new employees is taken into account both in current year and in projection year 1.000 35.500 7.00 PROJECTED 0.200 18.400 670.000 778.900 1.8% 85.000 33.0% 17.400 $649.100 $517.0% 14.8% 1.800 10.8% 100.300 Oct-03 $227.9% 72.0% 0.8% 1.300 $844.700 147.000 $981.000 3.700 22.8% 1.3% 3.700 227.0% 25.3% 3.000 32.3% 29.HISTORICAL Opening Inventory Material Purchases Freight & Duty Other Closing Inventory (-) Total Material Costs Direct Labour Wages Repairs & Maintenance Services / utilities Depreciation Overhead Realty Taxes TOTAL COST OF SALES ($) 0.000 0.8% 3.700 491.4% 2.500 576.7% 0.9% 0.000 $0 150.8% 1.2% 76.

500 8.600 32.300 29.000 $78.00 Oct-01 $38.000 42.100 A4 .000 $104.300 9.200 17.700 2.000 8.900 9.000 Oct-06 $63.00 0.300 6.000 46.D.500 22.100 22.700 16.300 8.000 5.300 9.000 6.700 14.500 $122.000 17.500 18.000 44.000 38.500 17.000 18.200 22.400 9.500 9.100 $241.400 32.000 48. Expenses ($) Research & Development ($) TOTAL EXPENSES ($) 0.000 $148.200 $25.200 $296.800 7.400 9.000 5.00 PROJECTED 0.300 $150.500 27.000 41.000 $83.900 Oct-03 $52.100 8.100 19.000 38.100 12.000 34.500 Oct-05 $60.600 13.00 Oct-04 $58.900 $91.T.900 7.700 8.200 35.200 $173.000 6.00 0.000 6.000 6.800 30.100 4.500 35.400 4.500 24.200 9.000 5.600 4.500 $111.500 45.000 16.200 Oct-02 $46.400 3.000 7. Bad Debts Other Total Admin.700 0.800 27.400 $144.800 $223.900 38.800 $231.400 4.000 12.000 $288.600 $0 $278.000 18.HISTORICAL Selling Salaries Traveling Advertising Shipping & Delivery Depreciation Other Total Sales Expenses ($) Management Salaries Office Salaries Professional Fees Telecommunication Depreciation Office Expenses Insurance & Taxes Bank Charges Interest on L.400 $0 $167.800 27.300 Jan-00 $0 $158.500 20.

0% 3. Bad Debts Other Total Admin Expenses (%) Research & Development (%) TOTAL EXPENSES (%) 16.7% 5.0% 8.5% 17.0% 4.0% 2.1% 0.6% 10.2% 0.4% 36.0% 8.0% 2.0% 62.7% 14.5% 2.0% 5.4% 1.0% 6.EXPENSES (%) Selling Salaries Traveling Advertising Shipping & Delivery Depreciation Other Total Sales Expenses (%) Management Salaries Office Salaries Professional Fees Telecommunication Depreciation Office Expenses Insurance & Taxes Bank Charges Interest on L.0% 100.7% 0.6% 0.6% 0.5% 36.7% 0.2% 0.3% 15.0% 3.3% 1.0% 21.2% 0.0% 0.0% 64.3% 3.0% 3.1% 0.0% 3.0% 100.9% 4.8% 4.8% 0.2% 12.0% 6.0% 4.3% 12.0% 21.1% 0.1% 2.1% 6.0% 8.0% 2.2% 2.6% 6.1% 0.8% 14.0% 64.5% 2.7% 0.0% 2.2% 15.0% 100.0% 100.0% 1.0% 5.0% 6.0% ASSUMPTIONS REGARDING EXPENSES A5 .0% 21.3% 0.1% 1.0% 13.2% 0.1% 39.T.3% 0.0% 0.7% 35.8% 3.0% 3.0% 12.0% 0.2% 11.8% 0.0% 6.0% 20.1% 16.0% 6.0% 2.2% 16.7% 12.D.4% 0.7% 100.8% 0.0% 7.7% 0.7% 0.0% 0.2% 0.3% 11.9% 15.3% 13.0% 54.2% 0.7% 0.0% 21.3% 0.9% 1.5% 0.0% 60.9% 8.8% 0.1% 0.7% 9.4% 0.4% 17.9% 37.7% 0.0% 0.0% 100.4% 13.0% 58.0% 2.4% 2.7% 3.4% 1.0% 11.1% 3.1% 0.2% 41.0% 6.

000 $388.00 0.600 $0 0 0 $0 $104.800 $91.500 $36.000 $379.600 Oct-03 $1.900 Jan-00 $0 0 $0 Oct-04 $1.500 173.400 679.000 $100.300 $0 $83.300 $10.495.300 $0 $83.000 876.300 0 $223.300 $0 $83.400 148.000 1.700 Net Profit $10.100 Oct-02 $933.107.00 PROJECTED Currrent Income Tax Deferred Taxes Depreciation Dividends CASH FLOW FROM OPERATIONS NOTES TO INCOME STATEMENT A6 .200 150.122.800 $91.300 $242.00 0.300 $277.000 981.700 $0 $0 $0 $0 $0 $0 $0 $10.HISTORICAL 0.800 $91.300 677.700 Non-Cash Items $0 $0 $0 $0 $0 $0 $0 $10.500 $36.800 $78.000 $100.300 $32.300 $32.00 0.300 $32.700 OPERATING PROFIT Other Income Non Operating Items Profit Before Taxes 0.100 $111.500 $36.500 $36.000 Oct-06 $1.360.900 158.900 $371.800 $91.100 $91.000 $100.300 $0 $83.800 144.200 25.00 Total Sales Total Cost of Sales Gross Profit Oct-01 $921.248.800 0 $296.200 0 $278.700 $255.000 $288.200 $122.400 0 $231.100 Oct-05 $1.000 167.400 0 $241.200 844.300 $32.000 $100.000 Sales Expenses Admin Expenses R&D Total Expenses $83.

900 2.Other Inventory Prepaid Expenses Other Current Assets Land Building Furniture & Fixtures Equipment & Machinery Other Net Fixed Assets Research & Development Other Assets Other Assets TOTAL ASSETS $2.900 A7 .200 TOTAL SHAREHOLDERS' EQUITY 98.800 19.700 $60.200 2.Trade Accounts Receivable -.2003 ASSETS Cash Accounts Receivable -.T.800 $15.100 260.000 69.D.200 LIABILITIES + S/H EQUITY $582.900 LIABILITIES Bank Loan Accounts Payable Accruals Current Portion of L.600 2.800 127.600 64.000 $299.000 38.600 1. Income Taxes Payable Other Current Liabilities Term Debt Sharehoders' Advances Other Long-Term Liabilities Common Shares Preferred Shares Retained Earnings Contributed Surplus $110.000 $196.300 147.100 $582.700 $224.600 15.600 $248.200 9.100 $2.300 $281.200 32.

300 70.400 162.300 $641.000 76.800 $66.300 NOTES TO BALANCE SHEET A8 .200 2.300 $2.100 TOTAL SHAREHOLDERS' EQUITY 69.100 LIABILITIES + S/H EQUITY $641.000 3.000 $285.800 $16.400 1.800 $273.400 $216. Income Taxes Payable Other Current Liabilities Term Debt Sharehoders' Advances Other Long-Term Liabilities Common Shares Preferred Shares Retained Earnings Contributed Surplus $160.BALANCE SHEET (CON'T) 2004 ASSETS Cash Accounts Receivable -.Trade Accounts Receivable -.400 2.400 21.T.500 $309.100 36.500 $329.D.100 140.100 10.300 LIABILITIES Bank Loan Accounts Payable Accruals Current Portion of L.200 3.500 286.Other Inventory Prepaid Expenses Other Current Assets Land Building Furniture & Fixtures Equipment & Machinery Other Net Fixed Assets Research & Development Other Assets Other Assets TOTAL ASSETS $3.500 17.

800 $110.700 4.200 2.300 $13.200 6.700 $97.000 3.800 -$107.000 6.100 $102.400 12.700 4.600 3.800 10.400 123.100 32.800 6.100 6.200 172.700 13.700 8.700 4.200 6.200 6.400 -120.500 3.700 $148.000 125.800 10.300 $94.000 14.500 14.500 -142.000 3.700 $123.000 $58.700 4.400 55.500 $5.300 2.900 $4.100 12.000 53.500 126.500 3.600 3.400 12.500 13.400 6.700 4.000 13.200 6.900 $99.300 $92.900 6.900 $299.000 $120.600 13.800 Collection of Sales Loans/Investments Sale of Assets Other Total Source $99.400 -$102.300 -107.600 6.700 3.700 4.000 12.900 23.000 13.300 204.200 $92.700 -102.000 102.000 14.2004 Jan $113.800 $126.900 $47.000 $53.800 $44.000 14.000 May $97.100 3.300 -$120.400 12.900 $17.700 $44.500 3.000 99.800 5.200 $140.400 12.000 3.800 92.000 120.800 110.000 14.000 $102.300 $89.800 5.100 12.900 $97.900 $115.100 12.000 Collection of Sales Loans/Investments Sale of Assets Other Total Source Purchases Payment Direct Labour Wages Repairs & Maintenance Utilities & Taxes Sales Expenses Administrative Expenses Interest Repayment of the Debt Other Total Application Surplus/ (Deficit) Opening Cash Position CASH / LOAN REQUIRED Surplus/ (Deficit) Opening Cash Position CASH / LOAN REQUIRED A9 .500 $44.000 4.400 12.700 Mar $99.000 $125.300 $94.500 200.200 95.600 $106.800 105.200 6.800 Apr $99.800 96.100 $204.000 14.000 3.900 Feb $102.500 50.000 3.400 12.100 102.200 148.000 3.000 5.000 3.500 3.000 102.900 $172.700 4.500 97.700 4.000 3.500 6.100 12.900 $102.200 14.000 $113.500 93.300 -3.300 $201.000 3.100 12.200 140.000 3.000 6.100 106.000 Jun $115.000 Purchases Payment Direct Labour Wages Repairs & Maintenance Utilities & Taxes Sales Expenses Administrative Expenses Interest Repayment of the Debt Other Total Application 46.500 58.400 $21.000 $102.200 13.800 $204.000 52.

040 12.550 $28.500 Aug $121.500 3.200 7.700 $60.500 May $106.200 7.790 $11.100 $278.300 Feb $113.870 $7.000 245.200 $101.500 $125.700 $245.500 3.500 $102.600 12.000 $109.500 3.200 $103.500 $121.000 Oct $132.300 $58.500 3.790 $309.500 $99.000 $109.500 3.600 235.300 14.700 4.800 273.550 $338.600 12.800 201.700 12.300 $57.800 $235.800 Apr $109.800 $109.500 $55.700 4.000 12.300 $23.500 6.200 $102.010 $368.500 3.500 $55.200 14.200 7.700 4.300 $258.200 2.700 4.000 14.000 Mar $109.870 $376.500 3.500 $63.100 $100.890 278.100 $112.600 251.000 3.700 4.000 14.760 297.200 6.200 14.700 4.500 3.500 3.000 Nov $130.900 224.040 13.700 Jun $126.000 Sept $112.240 $103.400 $103.700 4.000 $120.000 $112.000 $132.500 14.300 $58.900 $18.500 3.500 3.700 4.200 7.300 $113.860 338.000 Dec $120.CASH FLOW (CON'T) 2005 Collection of Sales Loans/Investments Sale of Assets Other Total Source Purchases Payment Direct Labour Wages Repairs & Maintenance Utilities & Taxes Sales Expenses Administrative Expenses Interest Repayment of the Debt Other Total Application Surplus/ (Deficit) Opening Cash Position CASH / LOAN REQUIRED Jan $125.500 14.710 12.500 3.040 12.300 $7.500 $51.300 5.030 2005 (con't) CASH / LOAN REQUIRED A10 .300 5.500 $106.200 $60.200 6.300 $6.700 $126.500 3.700 4.800 $10.500 6.500 6.000 12.900 $14.500 6.300 14.200 258.000 Purchases Payment Direct Labour Wages Repairs & Maintenance Utilities & Taxes Sales Expenses Administrative Expenses Interest Repayment of the Debt Other Total Application $51.000 12.700 4.160 368.500 3.460 309.200 7.500 3.300 $251.700 4.540 $99.140 $112.840 Surplus/ (Deficit) Opening Cash Position $5.100 Collection of Sales Loans/Investments Sale of Assets Other Total Source Jul $109.600 7.000 $224.900 $273.900 $297.600 7.700 $9.110 $100.000 12.010 $30.000 14.500 $63.300 $57.000 $130.040 12.800 14.200 7.500 3.700 4.200 14.500 3.800 14.

NOTES TO BALANCE CASH FLOW A11 .

000 50.000 Total Assets $200.000 $0 Total Others $0 $0 Working Capital Existing Loan 1 Creditor Purpose Type Collateral Outstanding Maturity Date Interest Rate Repayment Savings Bank of Canada Equipment Term Loan Millwork equipment.2003 Land Building Equipment & Machinery Furniture & Fixtures Research & Development 2004 $150.000 March. A12 .90% Monthly Blended + Interest NOTES REGARDING FINANCIAL REQUIREMENTS The loan is needed in order to meet our sales objectives for year 2. letter of credit $150. 2005 8.

17 1.HISTORICAL Current Ratio Age of Accounts Receivable Inventory Turnover (times) Interest Coverage Total Debt to Equity (%) Return on Investment (%) Return on Assets (%) Asset Turnover (times) Cash Flow Coverage Oct-01 1.09 54.58 2.43 5.00 Oct-02 1.60 0.34 1.86 0.70 4.17 3.36 4.35 2.46 0.85 NOTES REGARDING PERFORMANCE INDICATORS A13 .77 1.07 1.26 50.

500 NET WORTH $658. ASSETS Cash RRSP Life Insurance (cash value) Real Estate (present value) Automobiles Stocks.000 519-555-2003 DATE OF BIRTH 12/13/1962 (if less than 3 years at present one) PREVIOUS EMPLOYER TELEPHONE HOW LONG? SALARY FAMILY YOUR STATUS Nº OF DEPENDENTS SPOUSE'S LAST NAME FIRST NAME Married 2 Wright Mary SPOUSE'S EMPLOYER TELEPHONE 7/1/1963 DATE OF BIRTH OCCUPATION (excluding spouse) HOW LONG? VP Finances FINANCIAL STATUS SALARY SOURCE OF INCOME ANNUAL AMOUNT Total Assets COMMENTS $125.000 $15.500 A14 . 102 Elm Drive New Barton. ON N2O 3T3 TELEPHONE: WORK E-MAIL PRESENT EMPLOYER EMPLOYER'S TELEPHONE HOW LONG IN CURRENT JOB? SALARY 519-555-5020 HOME jwright@doorstotheworld. bonds.000 $0 $140.500 180.000 0 0 $207.000 85.000 32.000 Bank Loans (owing) Credit Cards Mortgages.DIRECTOR / BACKER Nº 1 LAST NAME FIRST NAME & INITIALS ADDRESS Wright Johnathan W.000 2.com Doors to the World Same 15 years $ 58. ($ value) Household & Personal Effects Monitel Communications 519-555-9928 9 years $ 67.000 500.000 0 $866.000 230. etc.000 Employment 2030293 Canada Inc. Total Liabilities $25. etc.000 8.000 LIABILITIES $6.000 5.

000 0 6.com 519-555-2293 DATE OF BIRTH 10/13/1965 (if less than 3 years at present one) PRESENT EMPLOYER EMPLOYER'S TELEPHONE HOW LONG IN CURRENT JOB? SALARY Doors to the World Same 12 years 47.000 $ PREVIOUS EMPLOYER TELEPHONE HOW LONG? SALARY FAMILY YOUR STATUS Nº OF DEPENDENTS Single 0 (excluding spouse) SPOUSE'S LAST NAME SPOUSE'S EMPLOYER FIRST NAME TELEPHONE DATE OF BIRTH HOW LONG? OCCUPATION SALARY FINANCIAL STATUS SOURCE OF INCOME ANNUAL AMOUNT Employment ASSETS Cash RRSP Life Insurance (cash value) Real Estate (present value) Automobiles Stocks.000 500.000 0 $755.000 6. ($ value) Household & Personal Effects Total Assets COMMENTS $47.000 180.000 Bank Loans (owing) Credit Cards Mortgages.000 0 0 $161. bonds.000 6.000 60.000 $0 $0 $47. Total Liabilities $5. etc.000 LIABILITIES $3.DIRECTOR / BACKER Nº 2 LAST NAME FIRST NAME & INITIALS ADDRESS Wright David 2203 Lakeside Street New Barton.000 A15 . ON N2O 2T0 TELEPHONE: WORK E-MAIL 519-555-5020 HOME dwright@doorstotheworld. etc.000 NET WORTH $594.000 150.

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